Commercial, multifamily loan originations break records

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Commercial and multifamily mortgage loan originations set a record during 2003, according to the Mortgage Bankers Association. The $116 billion in loan originations reported for 2003 were up by more than one-third from the $86.4 billion reported in 2002. MBA also reported that loan originations in the fourth quarter were the highest ever recorded in MBA's quarterly survey. The fourth-quarter total of $37.9 billion was $8.2 billion above third-quarter 2003 volume and $7.9 billion above fourth-quarter 2002 volume.  "The combination of the strong relative value of real estate as an investment, plentiful capital, continued low interest rates and the quickened pace of the economy's recovery fueled loan demand," noted Douglas G. Duncan, MBA chief economist and senior vice president, research and business development. "The commercial real estate finance business should remain strong as we enter 2004, given our forecast of continued solid economic growth and moderate increases in credi...